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NCEL on Nasdaq

NewcelX Ltd.

NewcelX Ltd. is a pharmaceutical preparations company based in Kloten, listed on Nasdaq (NCEL).1

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Last updated Oct 21, 2026.

Overview

-$8.3MNet income, fiscal 20252

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  • TickerNCEL on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersV81
  • Incorporated inSwitzerland3
  • Business addressThe Circle 6, 8058, Zurich3
  • Filer categoryNon-accelerated filer, Emerging growth company3
  • Legal formOther

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10, 2015 as a Swiss limited company. Our registered office is located at Hohstrasse 1, 8302 Kloten, Switzerland.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-114.5%Return on equity2
-$2.8MFree cash flow2

Financial statements

Operating income567892-$2.6M in 2025−26% since 2018
-$20.0M-$15.0M-$10.0M-$5.0M02018: -$3.4M-$3.4M20182019: -$4.2M-$4.2M2019+22%2020: -$2.3M-$2.3M2020−45%2021: -$11.9M-$11.9M2021+416%2022: -$15.5M-$15.5M2022+31%2023: -$3.0M-$3.0M2023−81%2024: -$2.1M-$2.1M2024−31%2025: -$2.6M-$2.6M2025+24%
Net income567892-$8.3M in 2025+61% since 2018
-$20.0M-$15.0M-$10.0M-$5.0M02018: -$5.1M-$5.1M20182019: -$5.4M-$5.4M2019+6%2020: -$2.9M-$2.9M2020−47%2021: -$11.9M-$11.9M2021+317%2022: -$16.5M-$16.5M2022+38%2023: -$3.3M-$3.3M2023−80%2024: -$7.2M-$7.2M2024+116%2025: -$8.3M-$8.3M2025+15%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Research and development expenses, net-$1.1M-$992.0K-$1.6M
Marketing expenses-$81.0K
General and administrative expenses-$1.3M-$805.0K-$1.3M
Other expenses (expenses for merger with NLS)-$88.0K-$269.0K
Operating loss-$2.6M-$2.1M-$3.0M
Financing income$369.0K$6.0K$36.0K
Financing expenses related to convertible instruments-$6.0M-$5.0M-$239.0K
Other financing expenses-$99.0K-$93.0K-$114.0K
Net financing expenses-$5.7M-$5.1M-$317.0K
Loss before taxes on income-$8.3M-$7.2M-$3.3M
Total Loss-$8.3M-$7.2M-$3.3M
Net loss attributable to common shareholders-$8.3M-$7.2M-$3.3M
Basic loss per share (in USD) (in Dollars per share)-$2.16-$2.43-$1.13
Diluted loss per share (in Dollars per share)-$2.16-$2.43-$1.13
Weighted average common shares used in computing basic net loss per common share (in Shares)3.8M shares3.0M shares3.0M shares
Weighted average common shares used in computing diluted net loss per common share (in Shares)3.8M shares3.0M shares3.0M shares
Adjustments arising from translating financial statements from functional currency to presentation currency-$751.0K-$92.0K-$98.0K
Total other comprehensive loss-$751.0K-$92.0K-$98.0K
Total comprehensive loss-$9.1M-$7.3M-$3.4M

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Corporate structure

NewcelX Ltd. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of NewcelX Ltd.

  • League Jinn Sarl Filed SCHEDULE 13D on NewcelX Ltd., latest May 4, 2026 (2 filings since Nov 13, 2025)
  • Michel Revel Filed SCHEDULE 13D on NewcelX Ltd., latest Nov 14, 2025
  • Ronen Twito Filed SCHEDULE 13D on NewcelX Ltd., latest Nov 13, 2025
  • CLOVER WOLF CAPITAL - LIMITED PARTNERSHIP Filed SCHEDULE 13G on NewcelX Ltd., latest Nov 7, 2025
  • BIOTECHNOLOGY VALUE FUND L P Filed SCHEDULE 13G/A on NewcelX Ltd., latest Nov 4, 2025 (2 filings since Dec 16, 2022)
  • Ronald Hafner Filed SCHEDULE 13D on NewcelX Ltd., latest Jun 24, 2025 (2 filings since Nov 21, 2024)
  • Lind Global Fund II LP Filed SCHEDULE 13G/A on NewcelX Ltd., latest Feb 14, 2025 (3 filings since Mar 27, 2024)
  • ARMISTICE CAPITAL, LLC Filed SC 13G on NewcelX Ltd., latest Nov 14, 2024
  • Felix Grisard Filed SC 13G/A on NewcelX Ltd., latest Nov 4, 2024 (2 filings since Feb 24, 2023)
  • YA II PN, Ltd. Filed SC 13G/A on NewcelX Ltd., latest Nov 4, 2024 (5 filings since Oct 8, 2021)
  • ALPHA CAPITAL ANSTALT Filed SC 13G on NewcelX Ltd., latest Oct 15, 2024
  • Eric Konofal Filed SC 13G/A on NewcelX Ltd., latest Feb 14, 2023 (2 filings since Feb 24, 2022)
  • NewcelX Ltd. V8

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What NewcelX Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.7M2 Dec 31, 2025$1.5M2 Dec 31, 2024+17.5%
Accumulated depreciation$1.6M2 Dec 31, 2025$1.3M2 Dec 31, 2024+21.2%
Property and equipment, net$95.0K2 Dec 31, 2025$123.0K2 Dec 31, 2024−22.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.2M2 Dec 31, 2025$650.0K2 Dec 31, 2024+238.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.7M2 Dec 31, 2025

Leadership

Who has led NewcelX Ltd., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ronen Twito2026–now

Chair

  1. Ronen Twito2026–now

Chief financial officer

  1. Omri Hagai2026–now
Board members and other officers (8)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Financial OfficerNicole Fernandez-McGovern named Jan 22, 2025 to Jul 10, 202519
  • Chief Financial OfficerElena Thyen-Pighin named Apr 3, 2024 to Oct 21, 202420
  • Chief Scientific Officer and Interim Chief Medical OfficerEric Konofal named Jul 15, 202421
  • Chief Scientific OfficerEric Allouche Konofal named Apr 3, 202422
  • Chief Medical OfficerGeorge Apostol named Apr 3, 202422
  • Chief Financial OfficerChad Hellmann named Oct 14, 2022 to Dec 21, 202223
  • DirectorFlorence Allouche Aknin named Apr 3, 2024 to Jul 10, 202519
  • DirectorGian-Marco Rinaldi de la Cruz named Oct 14, 2022 to Jul 10, 202519
  • Chairman of the Board of DirectorsRonald Hafner named Oct 14, 2022 to Jul 10, 202519
  • DirectorAudrey Greenberg named Apr 3, 2024 to Apr 14, 202524
  • DirectorClaudio L. A. Bassetti named Apr 3, 2024 to Jan 22, 202525
  • DirectorGian-Marco L.A. Rinaldi named Apr 3, 2024 to Oct 21, 202420
  • DirectorClaudio L.A. Basseti named Jul 15, 202421
  • DirectorAnthony Walsh named Apr 3, 202422
  • DirectorMyoung-Ok Kwon named Oct 14, 2022 to Dec 21, 202223
  • DirectorStig Lokke Pedersen named Oct 14, 2022 to Dec 21, 202223

Former names

  • NLS Pharmaceutics Ltd.Dec 18, 2019 to Oct 30, 20253

Timeline

  1. Mar 18, 2026New chief executive Ronen Twito becomes CEO10

Filings

367 filings to the SEC since October 2021: 5 annual reports, 11 insider forms, 27 large holders, 10 private raises, 314 other. The latest 20:

  1. Sep 22, 2026EFFECT EDGAR
  2. Sep 18, 2026POS AM POST-EFFECTIVE AMENDMENT NO. 3 TO FORM F-1 EDGAR
  3. Sep 18, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  4. Aug 26, 2026EFFECT EDGAR
  5. Aug 24, 2026D EDGAR
  6. Aug 20, 2026F-3 REGISTRATION STATEMENT EDGAR
  7. Aug 3, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  8. Jul 31, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  9. Jul 15, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  10. Jul 8, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  11. Jul 1, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  12. Jun 30, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  13. Jun 17, 2026EFFECT EDGAR
  14. Jun 15, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  15. Jun 10, 2026F-3/A AMENDMENT NO. 1 TO FORM F-3 EDGAR
  16. Jun 5, 20266-K CURRENT REPORT EDGAR
  17. May 27, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  18. May 15, 2026EFFECT EDGAR
  19. May 14, 2026CORRESP EDGAR
  20. May 14, 2026UPLOAD EDGAR

The 367 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 27, 2026Samuel OlivierDirectorBuy81,818$2.75$225.0KForm 4
Apr 27, 2026Revel MichelCSO and DirectorBuy54,545$2.75$150.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$33.6M 2022–2026
Money received by yearMoney received by year, 2022–2026: $33.6M in all. Private raises (Form D) $33.6M.$0$5M$10M$15M2022 · Private raises (Form D): $14.0M202220232024 · Private raises (Form D): $9.7M20242025 · Private raises (Form D): $3.5M20252026 · Private raises (Form D): $6.4M2026
Figures by year
YearPrivate raises (Form D)Total
2026$6.4M$6.4M
2025$3.5M$3.5M
2024$9.7M$9.7M
2022$14.0M$14.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jul 3, 2026Raised $2.9 million in a private offering of equity40 Form D: 5 investors so far Form D
  2. Apr 27, 2026Raised $3.4 million in a private offering of equity41 Form D: 4 investors so far Form D
  3. Jun 27, 2025Raised $1 million in a private offering of equity19 Form D: 3 investors so far Form D
  4. Mar 28, 2025Raised $2 million in a private offering of equity24 Form D: 3 investors so far Form D
  5. Jan 7, 2025Raised $499,999 in a private offering of equity25 Form D: 1 investor so far Form D
  6. Oct 11, 2024Raised $7.2 million in a private offering of equity20 Form D: 6 investors so far Form D
  7. Jun 28, 2024Raised $786,660 in a private offering of equity21 Form D: 2 investors so far Form D
  8. Mar 20, 2024Raised $1.8 million in a private offering of equity22 Form D: 2 investors so far Form D
  9. Dec 13, 2022Raised $10 million in a private offering of equity23 Form D: $30 million offered in all Form D
  10. Oct 7, 2022Raised $4 million in a private offering of equity42 Form D: 5 investors so far Form D

SEC filer profile

How NewcelX Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNewcelX Ltd.1
  • CIK0001783036
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inSwitzerland4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business addressThe Circle 6, 8058, Zurich, Switzerland1
  • Phone41-41-618-80-001
  • Shares outstanding4,797,505 shares as of Dec 31, 20254
  • AuditorKost Forer Gabbay & Kasierer, Tel-Aviv, Israel PCAOB ID 1281; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceDec 18, 20191
  • Filings416 in all: 6-K (212), CORRESP (25), UPLOAD (21), 425 (20), EFFECT (20), SC 13G/A (11), D (10), SC 13G (10)1
    All 33 form types

    3 (9), F-3 (8), F-1 (7), F-4/A (7), POS AM (7), 20-F (6), F-1/A (6), 6-K/A (5), 424B5 (4), NT 20-F (4), SCHEDULE 13D (4), 4 (2), 424B3 (2), CERT (2), F-3/A (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 25-NSE/A (1), 424B4 (1), 8-A12B (1), DRS (1), DRS/A (1), DRSLTR (1), F-4 (1), POS EX (1)

  • Latest filingsAnnual report (20-F) Apr 29, 2026

Securities registered for trading

ClassSymbolExchange
Common shares, nominal value CHF 0.05 per shareNCELNasdaq

From the cover page of the 20-F filed Apr 29, 2026 (Section 12(b) of the Exchange Act).4

Sources

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